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Eastman-Kodak files for Insolvency

The traditional photo film maker and pioneer in the film industry has finally
filed for insolvency. With the 9th negative fiscal quarter, all financial reserves
have been used up. Promoted sales of patents do different companies have not
been as successful as hoped. Kodak however tries to still keep up business.

However strict reorganization of the company will occur. Amongst these are massive layoffs and reduction of spread. as well as concentration of manufacturing sites. Kodak has closed production of the legendary analog film rolls for cameras which have lasted for 54 years (1949-2003). And Kodak was the first one who introduced color film rolls which produced remarkable pictures in that time (see my older blog entry)! However it seems as if Kodak could not stop it’s decay due to the modern digital era. Digital products are still used in many areas (newspaper print, offset printing, imaging of print plates, digital imaging, scanners, cameras) yet all the license fees seem not to bring in the needed cash.

As for now, Kodak has filed for Insolvency according to Chapter 11 of the Insolvence law.

The insolvency will not affect service whatsoever. It will give Kodak some time to restructure and hopefully rebuild it’s glory.

January 19, 2012 Netspark - 1594 posts - Member since: May 9th, 2011 No Comments »

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